Yesterday Fomilenio received the first bids for the project, which has assigned $11 million.
These proposals will be analyzed for the first phase of the project in which 10 contracts will be awarded for small-scale works. During 2010, Fomilenio will award 60 more.
José Ángel Quirós, head of Fomilenio, commented that its entity will finance 100% of the construction of each sub project, and each community will contribute 20% of its maintenance, either with payments in kind (materials or workforce) or in cash.
The banking sector requested that the term for the temporary measure of providing liquidity in US dollars via repo transactions be extended.
Sigloxxi.com reports that "Jose Angel Lopez Camposeco, president of the Banking Association of Guatemala (ABG) and the Rural Development Bank (Banrural), commented that the measure worked, "because it is an instrument which gave signals that in case of any need for or suspension of credit, we have resources available."
Experts predict that the American financial crisis will be felt through fewer credit flows, foreign investment, exports and remittances.
The National financial system is not showing signs of infection. Jose Angel Lopez, president of the Banking Association of Guatemala (ABG), indicated that the banks have their investments in the Central Bank, in government bonds, credits and other assets, hence their exposure to the American banks is minimum.
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